Economy of Latvia. Statistics, Data and Indicators
Latvia
| 69A- | Credit rank #39 |
| N/A | Quality of life # |
| 39 | Corruption rank#41 |
| 19 | Ease of doing business#19 |
Latvia Major Economic Indicators
| Indicator | Data | Period |
|---|---|---|
| GDP Value | 39.85 USD Billion | 2021 |
| GDP Annual Growth Rate | 0 % | 4Q/22 |
| GDP Growth Rate | 0.3 % | 4Q/22 |
| GDP per capita | 16610 USD | 2021 |
| Inflation Rate YoY | 20.8 % | Dec/22 |
| Interest Rate | 3 % | Feb/23 |
| Unemployment Rate | 6.9 % | 3Q/22 |
| Wages | 1002 EUR/Month | 1080.825 USD/Month | Sep/22 |
| Balance of Trade | -306 EUR Million | -0.33 B USD | Nov/22 |
| Current Account | -49 EUR Million | -0.053 B USD | Nov/22 |
| Foreign Exchange Reserves | 4158 USD Million | 4.158 B USD | Dec/22 |
| Government Debt | 15085 EUR Million | 16.272 B USD | 3Q/22 |
GDP Indicators
| Indicator | Data | Period |
|---|---|---|
| GDP Value | 39.85 USD Billion | 2021 |
| GDP Annual Growth Rate | 0 % | 4Q/22 |
| GDP Growth Rate | 0.3 % | 4Q/22 |
| GDP per capita | 16610 USD | 2021 |
| Gross National Product | 10144 EUR Million | 10.942 USD Billion | 3Q/22 |
| GDP Constant Prices | 7437067 EUR Thousand | 8.022 B USD | 3Q/22 |
| GDP per capita PPP | 32081 USD | 2021 |
| GDP From Agriculture | 308777 EUR Thousand | 0.333 B USD | 3Q/22 |
| GDP From Construction | 348099 EUR Thousand | 0.375 B USD | 3Q/22 |
| GDP From Manufacturing | 882575 EUR Thousand | 0.952 B USD | 3Q/22 |
| GDP From Mining | 151366 EUR Thousand | 0.163 B USD | 3Q/22 |
| GDP From Public Administration | 466831 EUR Thousand | 0.504 B USD | 3Q/22 |
| GDP From Services | 1064089 EUR Thousand | 1.148 B USD | 3Q/22 |
| GDP From Transport | 594528 EUR Thousand | 0.641 B USD | 3Q/22 |
Budget Indicators
| Indicator | Data | Period |
|---|---|---|
| Government Debt to GDP | 44.8 % | 2021 |
| Government Budget Value | -655267968 EUR | -0.707 USD Billion | Dec/22 |
| Government Spending | 1306871 EUR Thousand | 1.41 USD Billion | 3Q/22 |
| Government Debt | 15085 EUR Million | 16.272 USD Billion | 3Q/22 |
| Government Revenues | 1471136 EUR Thousand | 1.587 USD Billion | Dec/22 |
| Fiscal Expenditure | 2322439 EUR Thousand | 2.505 B USD | Dec/22 |
| Government Budget to GDP | -7 % | 2021 |
| Government Spending to GDP | 44.9 % | 2021 |
| Military Expenditure | 827 USD Million | 0.827 B USD | 2021 |
Inflation Indicators
| Indicator | Data | Period |
|---|---|---|
| Consumer Price Index (CPI) | 141 index points | Dec/22 |
| Export Prices | 144 index points | Nov/22 |
| Food Inflation | 29 % | Dec/22 |
| Gasoline Prices | 1.76 USD/Liter | Jan/23 |
| GDP Deflator | 1.4 % | 3Q/22 |
| Import Prices | 129 index points | Nov/22 |
| Inflation Rate YoY | 20.8 % | Dec/22 |
| Producer Prices | 170 index points | Dec/22 |
| Inflation Rate Mom | -0.5 % | Dec/22 |
| Core Consumer Prices | 124 Index Points | Dec/22 |
| Core Inflation Rate | 10.7 % | Dec/22 |
| CPI Housing Utilities | 173 Index Points | Dec/22 |
| CPI Transportation | 132 Index Points | Dec/22 |
| Harmonised Consumer Prices | 141 Index Points | Dec/22 |
| Producer Prices Change | 28.8 % | Dec/22 |
Trade Indicators
| Indicator | Data | Period |
|---|---|---|
| Current Account to GDP | -2.9 % | 2021 |
| Balance of Trade | -306 EUR Million | -0.33 USD Billion | Nov/22 |
| Capital Flows | -168000 EUR Thousand | -0.181 USD Billion | 3Q/22 |
| Current Account | -49 EUR Million | -0.053 USD Billion | Nov/22 |
| Exports | 1949 EUR Million | 2.102 USD Billion | Nov/22 |
| External Debt | 38358 EUR Million | 41.376 USD Billion | 3Q/22 |
| Foreign Exchange Reserves | 4158 USD Million | 4.158 USD Billion | Dec/22 |
| Imports | 2255 EUR Million | 2.432 USD Billion | Nov/22 |
Money Indicators
| Indicator | Data | Period |
|---|---|---|
| Bank Lending Rate | 4.84 % | Nov/22 |
| Gold Reserves | 6.66 Tonnes | 4Q/22 |
| Interbank Rate | 0.17 % | Feb/23 |
| Interest Rate | 3 % | Feb/23 |
| Loans to Private Sector | 4635 EUR Million | 5 USD Billion | Dec/22 |
| Money Supply M0 | 10943 EUR Million | 11.804 USD Billion | Dec/22 |
| Money Supply M1 | 18502 EUR Million | 19.958 USD Billion | Dec/22 |
| Money Supply M2 | 20041 EUR Million | 21.618 USD Billion | Dec/22 |
| Central Bank Balance Sheet | 25753 EUR Million | 27.779 B USD | Dec/22 |
| Foreign Direct Investment | 47 EUR Million | 0.051 B USD | Nov/22 |
Labor Indicators
| Indicator | Data | Period |
|---|---|---|
| Minimum Wages | 620 EUR/Month | 668.774 USD/Month | 1Q/23 |
| Retirement Age Men | 64.25 | 2022 |
| Retirement Age Women | 64.25 | 2022 |
| Unemployment Rate | 6.9 % | 3Q/22 |
| Wages | 1002 EUR/Month | 1080.825 USD/Month | Sep/22 |
| Youth Unemployment Rate | 18.7 % | Dec/22 |
| Employed Persons | 900 Thousand Person | 0.9 Million Person | 3Q/22 |
| Employment Change | 0.4 % | 3Q/22 |
| Employment Rate | 64.6 % | 3Q/22 |
| Full Time Employment | 795 Thousand Person | 3Q/22 |
| Job Vacancies | 25773 | 25.773 K | 3Q/22 |
| Labor Force Participation Rate | 69.4 % | 3Q/22 |
| Long Term Unemployment Rate | 1.9 % | 3Q/22 |
| Part Time Employment | 54.1 Thousand Persons | 3Q/22 |
| Unemployed Persons | 53536 Persons | 0.054 Million Persons | Dec/22 |
Taxes
| Indicator | Data | Period |
|---|---|---|
| Corporate Tax Rate | 20 % | 2022 |
| Personal Income Tax Rate | 31 % | 2022 |
| Sales Tax Rate | 21 % | 2022 |
| Social Security Rate | 34.09 % | 2022 |
| Social Security Rate For Companies | 23.59 % | 2022 |
| Social Security Rate For Employees | 10.5 % | 2022 |
Production Indicators
| Indicator | Data | Period |
|---|---|---|
| Electricity Production | 493 GWh | Nov/22 |
| Industrial Production | -4.4 % | Dec/22 |
| Mining Production | -17.8 % | Dec/22 |
| Industrial Production (MoM) | -2.6 % | Dec/22 |
Business Indicators
| Indicator | Data | Period |
|---|---|---|
| Business Confidence | -8.8 index points | Dec/22 |
| Corruption Index | 59 index points | 2022 |
| Corruption Rank | 39 place | 2022 |
| Ease of Doing Business | 19 place | 2019 |
| Manufacturing Production | -3.6 % | Dec/22 |
| Competitiveness Index | 66.98 Index Points | 2019 |
| Competitiveness Rank | 41 | 2019 |
| Economic Optimism Index | 91.6 Index Points | Dec/22 |
Consumer Indicators
| Indicator | Data | Period |
|---|---|---|
| Consumer Confidence | -32.9 index points | Dec/22 |
| Retail Sales MoM | -3 % | Dec/22 |
| Retail Sales YoY | -0.3 % | Dec/22 |
| Consumer Credit | 509 EUR Million | 0.56 USD Billion | Dec/18 |
| Consumer Spending | 4600814 EUR Thousand | 4.963 USD Billion | 3Q/22 |
| Households Debt To Income | 29.18 % | 2021 |
Housing Market
| Indicator | Data | Period |
|---|---|---|
| Construction Output | -13.6 % | 3Q/22 |
